Details

Autor(en) / Beteiligte

• Pope, Devin G.
• Schweitzer, Maurice E.

Titel

Is Tiger Woods Loss Averse? Persistent Bias in the Face of Experience, Competition, and High Stakes

Ist Teil von

• The American economic review, 2011-02, Vol.101 (1), p.129-157

Ort / Verlag

Nashville: American Economic Association

Erscheinungsjahr

2011

Quelle

Business Source Ultimate

Beschreibungen/Notizen

• Although experimental studies have documented systematic decision errors, many leading scholars believe that experience, competition, and large stakes will reliably extinguish biases. We test for the presence of a fundamental bias, loss aversion, in a high-stakes context: professional golfers' performance on the PGA Tour. Golf provides a natural setting to test for loss aversion because golfers are rewarded for the total number of strokes they take during a tournament, yet each individual hole has a salient reference point, par. We analyze over 2.5 million putts using precise laser measurements and find evidence that even the best golfers—including Tiger Woods—show evidence of loss aversion.